Bitcoin Private (BTCP) - Dual Coin Hard-fork on 28th February 2018 | How to Claim BTCP Safely
We have seen a lot of hard forks in 2017 and 2018 would not be an exception in my opinion. We might see a lot more even. Most of the Hard forks we came across lately were more or less a scam. Bitcoin holders have suffered through these hard forks, where people steal your coins when you try to claim the parallel ones.
Nowadays, if we come across a news of a coin getting hard forked, we don't get excited but worried instead. Although, if you think any upcoming hard fork is a scam or you don't support it. The best solution to bypass is not to claim them at all. Keeping in mind that you can claim your coins anytime in the future, Not necessary to claim your hard forked coin right after it happens.
Bitcoin Private is something different, i believe. As this hard fork is coming up with not just one but two coins combined i.e. Bitcoin and zClassic.
We know that the king "Bitcoin" was the very first application built upon blockchain technology. As much as people think of bitcoin being anonymous but the truth is, it's not an anonymous currency. And the majority of people think that bitcoin completely lacks anonymity, whereas it should have been right from the beginning.
zClassic, on the other hand, is completely based upon anonymity. Since it's already a hard fork of zCash. It carries almost all the features of zCash built into it. The major reason of zClassic gets evolved from zCash is to remove 20% developer fee from mining. zClassic team believes in providing complete block rewards to miners.
ZClassic is being used in Bitcoin Private hard fork particularly for its properties of being completely anonymous and higher block rewards to its miners' community. Even I believe, choosing zClassic over zCash is a better option.
Motive Behind Bitcoin Private
Bitcoin Private is promised to deliver decentralized and completely private transactions on blockchain. According to their official website, BTCP will be faster than Bitcoin, more secure with less transaction fee. It is also announced that there will be no pre-mined or any founders reward in BTCP Blockchain to give it a fair start for everyone. Not to mention, it's code base will be released publically to make it completely source. following is the screenshot of BTCP official website btcprivate.org
Hardfork Dates & Details
BTCP hard fork is happening on February 28th, 2018 and everyone will be provided with equal amount of BTCP against BTC and zClassic. which means if you hold 10 Bitcoin and 10 zClassic. you will be provided with 20 Bitcoin Private (BTCP). However, it is still unclear, if and which exchanges will be supporting this hard fork.
How to Claim BTCP
I couldn't find any updates on any exchange, for BTCP support. So, I have created this post to let people know, how to claim BTCP safely to their wallets as following:
- Download BTC & ZCL electrum wallets
- Transfer your coins into their respective wallets
- Wait until 28th Feb, 2018
- Transfer your coins to another wallet (Just to be safe)
- BTCP wallet will be provided after 2 days of hard fork (As they announced)
- Download BTCP wallet to claim your BTCP using private keys (will be safer, as you already transfered your coins to another wallet)
Useful Links:
I would love to read your comments and thoughts about Bitcoin Private hard fork.
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This will be a total flop as it is a cash grab. Look into one for the founders ( Gary) and you will quickly see his pattern of forking and running.
@crypto2crypto I can't find any Gary in their team, can you help me out here, Also what do you think of when they say they are not going to pre-mine anything or not going for any developer/founder reward?
Gary le is his name, they left him off the list for a reason. Look up the history of ztoken to get a full understanding.
Starting with: Rhett Creighton
@crypto2crypto get your point mate, I think you are right on your part and is genuinely considerable, my self won't invest in the guy. but if they are promissing a fair launch. So, we can take those coins with a safe method and see what they are up to.
I'll be watching closely. Also they Rhett and Gary are already forking another coin as we speak. It is having a private ICO smh
Amazing piece of information @bunnychum. I am always skeptical about sending my bitcoins to a wallet for the first time because I have lost a lot of my cryptos in scam. Yet I keep moving forward.
This post is spot on transparent and gave a lot of information about the hard fork which will give us Bitcoin Private and zClassic. Cheers!
Thank you @hungryhustle
Your post is quite informative but too many coins and lots of hard forks. Ab to sab scam hi lagta hai.
What is your prediction for Electronium? I am keen to buy more.
@shagungupta Every coin is not a scam. However, most of them are... Electronium is quite an interesting project if only, they release their first promise of mobile mining. If you're looking for small value coins then XVG, Sia, XEM, XLM are pretty good. :)
Electroneum falls under the scam category as well. it only gained hype because it had a referal bonus in ICO, so many people jumped on board.
@crypto2crypto Agreed, but kind of solution they promised made them successful. However, they are still unable to provide that... ;p
So in other words, all vaporware.
The solution they talked about wouldn’t be feasible.
Look at it like this, if it’s profitable for a phone to mine, every data center would with spare power would hop on board and crush it.
Been mining zclassic for the last couple of days, I'm so hyped for this. Hopefully it won't end up like the Litecoin Cash fork where yobit is the only site selling and they won't let you deposit LCC.. Also theres the slight problem that cryptopia has locked the zclassic wallet for the last week
@sisygoboom Litecoin Cash was a scam. The way BTCP has announced, there would be no founders' reward & no pre-mine seems quite legit to me.
Very true, I believe the zclassic team is actually transitioning to work on bitcoin private - a wise move even just for the namesake since time and time again, coins with 'bit' or 'bitcoin' have done well - and coins with 'classic' haven't done as well as they should've.
Hopefully we get a couple of exchanges so there isn't a monopoly of sorts.
thank you. Can I get btcp in blockchaininfo wallet?
@lovelake I was unable to find any information that blockchain.info is providing with BTCP. But you can use private keys to claim your coins, which I would rather suggest to move your coins in a fresh wallet and empty it before claiming...
Thanks for the update. What are your top 10 in market cap predictions for July?
This is amazing news and I'm so excited. Can't imagine where our community will be in one years time.
this is very good information.
@jasonmunapasee can you please elaborate? How's this a false information?
Sorry friends I mean this is very good information,
In our place the internet network is very bad.
so I find it difficult to translate words.
Once again I'm sorry, I mean not fake information.
but very nice information @bunnychum.
That's alright mate, please don't apologize, happens a lot... Auto-Translation is sh*ty sometimes... Lolzz...
thanks.
thank you very much for infomation
it's very helping
good postings, providing fellow information can be helpful for all steam power users. this is a very I need
thank you @launglilawangsa
You made an amazing post ! Upvoted from @antobrampu. I followed you.